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Bharti, Wal-Mart To Divorce, Wal-Mart To Buy Out Best Price

PUBLISHED BY: SURENDER KUMAR
OCTOBER 09, 2013

   
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Bharti Enterprises and Wal-Mart are headed for a corporate divorce in the Indian retail sector. Subsequently, the US retail co. will buy out the Indian partner from their 50:50 wholesale cash and carry joint venture — Bharti Walmart. The companies have reached an agreement to independently own and run separate businesses in India and discontinue their franchise agreement. The two had joined hands in 2007 to launch the first B2B Best Price Modern Wholesale cash-and-carry store in Amritsar in 2009.

 

 

 

After getting the required clearances, Wal-Mart would acquire Bharti's stake in Bharti Walmart, the joint venture, thereby giving Wal-Mart 100 % ownership of the Best Price Cash and Carry business. At present, there are 20 Best Price stores located across India.

 

 



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